By Wendy Van Sickle
Columbus, Ohio, Jan. 20 – Barclays Bank plc priced $10 million of airbag autocallable contingent yield notes due Jan. 18, 2024 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly at an annualized rate of 11.05% if the ETF closes above its coupon barrier, 85% of the initial level, on the related observation date, plus any previously unpaid coupon.
The notes will be called automatically at par if the shares close at or above the initial share price on any monthly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 85% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Airbag autocallable contingent yield notes
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| Underlying ETF: | SPDR S&P 500 ETF trust
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| Amount: | $10 million
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| Maturity: | Jan. 18, 2024
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| Coupon: | 11.05%, payable monthly if ETF closes above coupon barrier on related observation date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 2.9637 shares
|
| Call: | Automatically at par if the shares close at or above initial share price on any monthly observation date
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| Initial share price: | $396.96
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| Coupon barrier: | $337.42, 85% of initial share price
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| Conversion price: | $337.42, 85% of initial share price
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 20
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| Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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| Fees: | 0.1%
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| Cusip: | 06748D634
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